The Regional Investment Corporation Agristarter Loan, applications are now open.
Regional Investment Corporation (RIC) is a Federal Government-backed specialist finance provider with an objective to provide loans to eligible farm businesses. Their goal is to provide a fair and ethical service that is accessible to all farm-related businesses.
The AgriStarter Loan has been backed by the Federal Government with a view that it will support the next generation of Australian farmers. It does this by providing loans for first time farmers, as well as support for the next generation of farmers, to assist them in buying an existing farm business, undertaking succession arrangements or establishing a new farm business
The AgriStarter loan offers two kinds of loans-first farmer loans and succession loans:
- You can apply for a first farmer loan if you are seeking to purchase, establish or develop a farm business in which you hold or will hold the sole interest or a controlling interest.
- You can apply for a succession loan if your farm business is undertaking or has undertaken succession planning.
Refer to the AgriStarter Loan Guidelines here: https://www.ric.gov.au/agristarter#guidelines for further eligibility requirements.
Loans are available up to $2 million over (10) years with interest-only repayments for the first (5) years followed by (5) years' principal and interest repayments. Any residual balance on the loan will need to be refinanced with another provider.
To be eligible, you must meet the criteria set out via the following document:
How can Brentnalls Agribusiness help?
At Brentnalls Agribusiness, we have knowledge and experience to help you plan and execute our succession plan. Our objective is to see you and your farming business thrive now and into the future.
If you would like to print this information please click here for PDF format.
The information provided in this information sheet does not constitute advice. The information is of a general nature only and does not take into account your individual situation. It should not be used, relied upon, or treated as a substitute for specific professional advice. We recommend that you contact Brentnalls SA before making any decision to discuss your particular requirements or circumstances.